Pancon Files Management Proxy Circular for Special Meeting of Shareholders
Pancon Files Management Proxy Circular for
Special Meeting of Shareholders
Toronto, Ontario--(Newsfile Corp. - January 4, 2023) - P
ancontinental Resources Corporation (TSXV:
PUC) (OTCQB: PUCCF) ("
Pancon
" or the "
Company
") announces that it has mailed its management
information circular (the "
Circular
") and related materials for the special meeting (the "
Meeting
") of the
Company's shareholders (the "
Shareholders
") that will be held on Thursday, February 2, 2023 at 10:00
am EDT at 217 Queen Street West, Suite 401, Toronto, ON, Canada. A copy of the Circular can be
found on the Company's SEDAR profile at
www.sedar.com
.
During the Meeting, the Company will ask for shareholders to vote for: (i) a name change to Carolina
Rush Corporation (the "
Name Change
"); and (ii) a proposal to consolidate its common shares on the
basis of every ten (10) issued common shares for one (1) new common share (the "
Consolidation
").
No fractional shares will be issued and any fractional shares will be rounded down to the nearest lower
whole share. The Name Change and Consolidation are subject to the approval of the TSX Venture
Exchange, applicable securities regulatory authorities, and the approval of the shareholders of the
Company.
Pancon President and CEO Layton Croft stated: "As announced yesterday, our Company has identified
some very strong drill targets and extensions of known mineralization at our Brewer Gold and Copper
Project, which we are excited to resume drilling (see the January 3, 2023 news release). We intend to
apply our strategic exploration model and experience at Brewer to acquire other high potential gold and
copper projects in the Carolinas region. The name change and share consolidation will be a cornerstone
to attract strategic investors to help us fund aggressive exploration of the large gold-copper system at
Brewer. With the restructuring of the Company we intend to strengthen our Management Team with the
addition of more technical expertise and executive experience."
If 67% of voting shareholders at the Meeting approve the Name Change and Consolidation, the
Company plans to raise capital to resume drilling at its flagship Brewer Gold and Copper Project.
Brewer will anchor the Company's vision to be the leading explorer in the southeastern US.
How to Vote at the Special Meeting
Shareholders must vote their proxy before 10:00 a.m. ET on Tuesday, Janurary 31, 2023. If you are a
registered shareholder, whether or not you plan to attend the Special Meeting, to vote your shares at the
Special Meeting, you can either return a duly completed and executed form of proxy to the Company's
transfer agent, TSX Trust Company, by mail at: TSX Trust, 100 Adelaide Street West, Suite 301,
Toronto, Ontario M5H 4H1, or via the internet at
www.voteproxyonline.com
no later than 10:00 a.m. ET
on Tuesday, Janurary 31, 2023. If you hold Shares through a broker, investment dealer, bank, trust
company or other intermediary, you should follow the instructions provided by your intermediary to ensure
your vote is counted at the Special Meeting.
Zoom Townhall Discussion on January 5
The Company will host a live zoom townhall discussion tomorrow afternoon, Thursday, January 5, 2023,
from 4:30-5:30 pm ET to discuss the Company's plans for 2023. The discussion will be recorded and
available for on-demand viewing afterwards. There are 2 different ways to join the zoom webinar:
1)
Click here:
https://us02web.zoom.us/j/81335292486?pwd=UzRyZjlrd2pTWlYvczlPRFU0Z2JLUT09
,
Meeting ID: 813 3529 2486; Passcode: 095977
2)
By phone:
In Canada:
Dial: +1 204 272 7920
or +1 438 809 7799
or +1 587 328 1099
or +1 647 374 4685
or +1
647 558 0588
or +1 778 907 2071
or +1 780 666 0144
Webinar ID: 813 3529 2486 and Passcode: 095977
In the US:
Dial: +1 646 876 9923
or +1 646 931 3860
or +1 669 444 9171
or +1 669 900 6833
or +1
689 278 1000
or +1 719 359 4580
or +1 253 205 0468
or +1 253 215 8782
or +1 301 715
8592
or +1 305 224 1968
or +1 309 205 3325
or +1 312 626 6799
or +1 346 248 7799
or
+1 360 209 5623
or +1 386 347 5053
or +1 408 638 0968
or +1 507 473 4847
or +1 564
217 2000
Webinar ID: 813 3529 2486 and Passcode: 095977
International numbers available:
https://us02web.zoom.us/u/kiH9huJ1I
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc,
CPG-12116, a Qualified Person as defined by NI 43-101.
About Pancon
Pancontinental Resources Corporation (TSXV: PUC) (OTCQB: PUCCF), or Pancon, is exploring the,
underexplored Carolina Terrane in the southeastern USA. In January 2020, Pancon won the exclusive
right to explore and purchase the former Brewer Gold Mine property, with an option period through 2030.
Brewer is a breccia-hosted, high-sulphidation epithermal gold-copper system which is likely related to a
copper-gold porphyry system at depth. Total historic production at the Brewer property is estimated to
be a minimum of 200,000 ounces of gold.
Most of the gold production occurred between 1987-1995
when 178,000 ounces of gold were recovered mostly from oxide ore extracted from open pits that
extended to maximum of depth of 65 meters (Zwaschka and Scheetz, 1995, Detailed Geology of the
Brewer Gold Mine, Jefferson, South Carolina). Pancon's 100%-owned, 1,730-acre Jefferson Gold
Project mostly surrounds the 1,000-acre Brewer property. The Brewer-Jefferson area of interest, in
Chesterfield County, South Carolina, is 12 kilometers along trend from the producing Haile Gold Mine,
which has Proven and Probable reserves of 2.55 million ounces of gold with a production guidance of
165,000 - 175,000 ounces of gold in 2022 (
https://oceanagold.com/operation/haile/
).
For further information, please contact:
Jeanny So, External Relations Manager
E:
T: +1.647.202.0994
For additional information please visit our new website at
http://www.panconresources.com/
and our
Twitter feed:
@PanconResources
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, and opportunities to differ materially from those
expressed or implied by such forward-looking information. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not limited to, changes in the
state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required
regulatory or governmental approvals, and other risks involved in the mineral exploration and
development industry, including those risks set out in the Company's management's discussion and
analysis as filed under the Company's profile at
www.sedar.com
. Forward-looking information in this
news release is based on the opinions and assumptions of management considered reasonable as of
the date hereof, including that all necessary governmental and regulatory approvals will be received
as and when expected. Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should
not be placed on such information. The Company disclaims any intention or obligation to update or
revise any forward-looking information, other than as required by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/150202